Saving

Pay Cash For Next Christmas (or a Vacation!)

Happy Monday! It’s my favorite day of the week because another episode of the Monday Money Tip Podcast is LIVE! Are you making progress when it comes to budgeting, but an unexpected expense blows up your budget? On today’s episode, we’re helping you figure out how to prevent issues (like car repairs, Christmas or vacations) from messing with your financial progress. In our Current Money Events segment, we’re sharing tips that I’ve learned from budgeting for 200 consecutive months. Our success story comes from Cody, who was able to eliminate a car payment.        

Find more episodes of the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering: “We need your help. We are pretty good at budgeting, but it seems like right when we have started to make progress, an unexpected expense blows up our budget – things like a car repair or an insurance bill that is due every six months. Can you help us figure out how to prevent these issues from messing with our financial progress?”  
  • In our Current Money Events segment, we’re sharing tips that Joe has learned from budgeting for 200 consecutive months. 
  • Our success story comes from Cody, who was able to eliminate a car payment. 

Resources:
I Was Broke. Now I’m Not. Participant Kit + FREE Access to Online Study
I Was Broke. Now I’m Not. Group Study DVD
I Was Broke. Now I’m Not. Tools
TOOLS: Budgeting 
TOOLS: Known, Upcoming, Non-Monthly Expense Calculator 
Next Steps: Banking  
IWBNIN Ladder
20/20 MONEY: Gaining Clarity For Your Financial Future 

Verse: “The plans of the diligent lead to profit, as surely as haste leads to poverty.” – Proverbs 21:5

Related Monday Money Tip Podcast Episodes:
Episode 32: How to Have a Debt-Free Vacation
Episode 33: How to Never Have a Car Payment
Episode 61: The I Was Broke. Now I’m Not. Ladder – Explained
Episode 83: Money Saving Tips

Money Saving Tips

Happy Monday! It’s my favorite day of the week because another episode of the Monday Money Tip Podcast is LIVE! In this episode, we’re sharing all our money saving tips. If you just got started with your monthly budget, but it’s tight, this episode is for you. Join us as we share ways you can save money in your budget. In our Current Money Events segment, we’re talking about things people say about money that drive us crazy! (Hopefully, you haven’t said one of these!) Our success story comes from Debby, who paid off her house in less than seven years!    

Find more episodes of the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering: “I just got started with my monthly budget. It is really tight! What are some ways I can save money in my budget?” 
  • In our Current Money Events segment, we’re talking about things people say about money that drive us crazy!
  • Our success story comes from Debby, who paid off her house in less than seven years!   


Resources:
I Was Broke. Now I’m Not. Online Study
Free Tools
See Our Team Live
Cash Envelopes
0% Balance Transfer Credit Cards
Next Steps – Insurance
MMT Podcast: Episode 33 – How to Never Have a Car Payment
Selling a Car with Negative Equity Ebook 
IWBNIN Ladder

Sarah’s Spending Fast

Happy Monday! Another episode of the Monday Money Tip Podcast is LIVE! It’s a special edition of the Podcast. On today’s episode, we’re sharing Sarah’s story. Sarah went on a spending fast for an entire year. Join us as we share how it changed her and what she learned. In our Current Money Events segment, we’re talking about Christmas spending since we’re only 9 days away from Christmas. Our success story today comes from Nathan, who just wrapped up another I Was Broke. Now I’m Not. Small Group Study at Countryside Church.
 

Find more episodes of the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website

About the Episode: 

  • Today, we’re answering: “I read an article on your website about a person who went on a spending fast. I thought it was fascinating! Can you talk more about this in an upcoming podcast episode?” 
  • In our Current Money Events segment, we’re talking about Christmas spending since we’re only 9 days away from Christmas.
  • Hear a success story from Nathan, who just wrapped up another small group study at Countryside Church. 

Resources:
20/20 Money: Gaining Clarity For Your Financial Future 
Next Steps – 0% Balance Transfer Credit Cards
MMT Podcast – Episode 63: 0% Balance Transfer Credit Cards
Blog Post – Sarah’s Spending Fast
Sarah’s Spending Fast 2.0
Latte Factor – David Bach

Quote of the Day: “No one has ever become poor by giving.” – Anne Frank

The Saving Challenge

Happy Monday! It’s my favorite day of the week because another episode of the Monday Money Tip Podcast is LIVE! How are you when it comes to saving money? Would you say you’re a saver or a spender? Today on the podcast, we’re helping you discover ways to save money so you can break the never-ending cycle of saving and then having a massive expense wreck your progress. In our Current Money Events segment, we’re updating you on my new book, 20/20 Money: Gaining Clarity for Your Financial Future. Our success story today comes from Rallyn, who just paid off two student loans using the debt snowball method!   

It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take the next step, and that you’ve had FUN with us! 

Find the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

Email info@iwbnin.com to ask questions or share success stories.

NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
YouTube

About the Episode: 

  • Today, we’re answering: “I can’t really seem to figure out how to save money! We manage to save up a little bit of money, but then something big seems to always happen and take us back to zero. Can you help me figure out how to overcome this seemingly never-ending cycle?”
  • In our Current Money Events segment, we’re updating you on my new book, 20/20 Money: Gaining Clarity for Your Financial Future.
  • Hear a success story from Rallyn, who just paid off two student loans using the debt snowball method!  

Resources:
Debt Freedom Date Calculator
Pre-Sale: 20/20 Money
IWBNIN Ladder
Known, Upcoming Expense Calculator
MMT Podcast – Episode 61: IWBNIN Ladder – Explained
Next Steps – Online Banks

Quote of the Day: “You can not prosper if you do not save.” – Joe Sangl

401(k)’s Explained

I’m sure by this point you know it is very important to save into a retirement account so that at one point you can stop working. But this can be confusing to navigate when you are unsure of what the different accounts are and how they work. The numbers and letters are thrown around so often it can be easy to feel like you should just KNOW what everything means. But what exactly is a 401(k)?

Simply put, a 401(k) is a retirement savings plan that comes from Section 401 part k of the IRS tax code. It is what is known as a “pre-tax” investment which means that generally you are able to deduct annual contributions on your taxes each year. Once the money is in the account, it grows tax-free until you withdraw the money. At that point, you will have to pay taxes on your initial investment and also any growth that has accumulated.

If your employer has a 401(k) available for you to invest in, most times they will also offer a match up to a certain percentage. For example, some employers may match dollar for dollar up to 6%. So if you invest 6% of your paycheck into your 401(k), your employer will match that 6%. That’s FREE money!

401(k)’s can be a fantastic vehicle to accumulate money for retirement. While it can be confusing with so many different types of accounts the key is to get started saving and never turn back!

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